CZ Backs Crypto Passporting to Simplify Regulation

Binance co-founder Changpeng Zhao (CZ) has expressed support for a passporting system that would allow cryptocurrencies to be easily licensed and regulated across different jurisdictions.

The idea of passporting, which is already used in traditional finance, involves allowing financial institutions to operate in multiple countries with a single license, rather than having to obtain separate licenses for each country.

CZ believes this could help simplify the regulatory landscape for cryptocurrencies, making it easier and cheaper for companies to comply with regulations.